Tether Gold

Toncoin

Million

April

<a href="https://bitcoinworld.co.in/60-million-usdt-already-issued-on-ton-making-it-11th-largest-blockchain-for-tether/" title="$60 Million USDT Already Issued on TON, Making it 11th Largest Blockchain for Tether" rel="nofollow"></a>
The world’s leading stablecoin issuer Tether has made a fast start on The Open Network (TON), issuing $60 million worth of USDT since integrating with the blockchain on April 19th.&nbsp; 
This makes <a href="https://ton.org/">TON</a> the 11th blockchain to host Tether, expanding its reach and offering new options for users. 
The collaboration between the two, announced at the Token2049 conference in Dubai, also saw the launch of Tether Gold (XAUT) on TON. This gold-pegged stablecoin offers users additional diversification options. 
Tether CEO Paolo Ardoino <a href="https://twitter.com/paoloardoino/status/1781956881663074639">expressed</a> optimism about the partnership, calling it a “great start” with $35 million issued initially. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Already 35M USDt issued on TON. Great start! 
 — Paolo Ardoino <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f350.png" alt="🍐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1781956881663074639?ref_src=twsrc%5Etfw">April 21, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The Tether Transparency report confirms the figure has grown to $60 million within just two days. 
This integration has significant implications for Telegram users. Tether’s presence on TON allows for instant and free cross-border payments between all platform users.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/russia-bypassing-economic-sanctions-by-using-tethers-usdt-stablecoin-as-alternative-payment-source/" aria-label="“Russia Bypassing Economic Sanctions By Using Tether’s USDT Stablecoin As Alternative Payment Source” (Edit)">Russia Bypassing Economic Sanctions By Using Tether’s USDT Stablecoin As Alternative Payment Source</a> 
The integration allows to send payments across without the need of a blockchain address or downloading separate apps. According to Telegram, sending money will be as simple as sending a direct message. 
<h3 id="span-style-font-weight-400-tether-and-ton-s-seamless-integration-with-fiat-currencies-span">Tether and Ton’s Seamless Integration With Fiat Currencies</h3> 
Tether on TON also boasts seamless integration with fiat currencies. Users can expect easy on-ramping from most global currencies at launch, with off-ramping functionalities planned soon.&nbsp; 
This will allow users to convert their Tether back to fiat and withdraw it directly to bank accounts or cards. 
While TON is a new addition, Tether’s dominant presence remains on the Tron network, holding over $57.8 billion worth of USDT.&nbsp; 
Ethereum, once the leader, currently holds $51 billion, reflecting a gradual shift as Tether seeks to escape Ethereum’s high network fees. Solana stands as the third-largest Tether host with $1.9 billion. 
Tether currently holds a staggering 69% share of the entire stablecoin market, valued at roughly $159.5 billion according to CoinGecko.&nbsp; 
Its closest competitor, Circle’s USD Coin (USDC), holds a 21% share with $33.7 billion in circulation. 
<figure id="attachment_71025" aria-describedby="caption-attachment-71025" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-71025" src="https://bitcoinworld.co.in/wp-content/uploads/TON-Price-Chart-5-483x300.png" alt="" width="549" height="341" srcset="https://bitcoinworld.co.in/wp-content/uploads/TON-Price-Chart-5-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/TON-Price-Chart-5.png 760w" sizes="(max-width: 549px) 100vw, 549px">
 <figcaption id="caption-attachment-71025" class="wp-caption-text">
 TON Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
While TON’s price initially spiked 22% on the Tether announcement, it has since returned to previous levels. At the time of writing, Toncoin is <a href="https://coinstats.app/coins/the-open-network/">trading</a> down 1.1% at $5.746. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/60-million-usdt-already-issued-on-ton-making-it-11th-largest-blockchain-for-tether/">$60 Million USDT Already Issued on TON, Making it 11th Largest Blockchain for Tether</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

$60 Million USDT Already Issued on TON, Making it 11th Largest Blockchain for Tether

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